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UK Trade Balance deficit at a seven-month high

Thursday, Apr 09 2015
Seasonally adjusted, the UK’s deficit on trade in goods and services was estimated to have been £2.9 billion in February 2015, compared with £1.5 billion in January 2015. This reflects a deficit of £10.3 billion on goods, partially offset by an estimated surplus of £7.5 billion on services. Analysts were expecting deficit of £9.7 billion.
 
The widening of the trade deficit between January and February 2015 mainly reflects a fall in exports of goods to non-EU countries, particularly to the United States. In terms of commodities, the main decreases were in the exports of miscellaneous manufactures, material manufactures and chemical manufactures.
 
Data did not have any major impact with Sterling currently being traded slightly below 1.48 area. Pair is likely to find support around 1.4750 handle and resistance above 1.4850 level. Later today, BoE interest rate decision is scheduled for a release.
More in this category: « Euro lower at the opening of European part of the session BoE left its interest rates unchanged »

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